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Sourcing Requisition - Model Risk Governance and Review

0 - 5 yrs
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Not Disclosed by Recruiter Posted 30+ days ago Job Applicants: Less than 10 Job Views: 114

Job Description

 
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    Financial Institutions routinely use models for a broad range of activities including analyzing business strategies, informing business decisions, identifying and measuring risk, valuing exposures or instruments, hedging derivative positions, conducting stress testing, assessing capital adequacy, managing clients assets, informing investment process, measuring compliance with internal limits, maintaining the formal control apparatus of the bank, meeting financial or regulatory reporting requirements and issuing public disclosures. Model Risk arises from the potential adverse consequences of making decisions based on incorrect or misused model outputs and reports, leading to financial loss, poor business decision making, or reputational damage. As part of the firm’s model risk management function, the Model Governance Group (MGG) is charged with developing model risk policy and control procedures, performing model validation activities, providing guidance on a model’s appropriate usage in the business context, evaluating ongoing model performance testing, and ensuring that model users are aware of the model strengths and limitations. Core responsibilities: The successful candidate will focus on the following activities: Perform assessments of the conceptual soundness of model specification, the appropriateness of the methodology for its intended purpose, reasonableness of assumptions and reliability of inputs
    Assess completeness of testing performed to support the correctness of the implementation
    Assist with model identification process, assessing whether newly identified methodologies should be in scope of the model risk policy
    Work with model developers and model users across the firm to understand methodology and usage

    Liaise with other Model Governance groups in relevant coverage areas across the firm


    Essential skills, experience, and
    qualifications:


    The
    successful candidate will have the following skills, experience, and
    qualifications:


    Quantitative
    background ideally with a Master’s degree in Maths, Science,
    Engineering, Statistics, Quant Finance etc
    Strong
    quantitative, analytical, and problem solving skills; knowledge of probability
    theory, statistics, mathematical finance, econometrics, numerical methods
    Knowledge
    of Mortgage-Backed Securities and statistical modelling
    Knowledge of finance industry,
    particularly in modeling- valuation, risk, capital, forecasting, investment
    management
    Experience in model
    validation and/or model development preferred
    Strong
    communication and interpersonal skills
    Strong project management and
    organizational skills; ability to multi-task and meet deadlines
    Ability to work independently,
    with remote supervision
    Risk
    and control mindset: ability to ask incisive questions, assess materiality and
    escalate issues

Salary: Not Disclosed by Recruiter

Industry: Banking, Financial Services, Broking

Functional Area: Accounts , Finance , Tax , Company Secretary , Audit

Role Category:Finance/Audit

Role:Finance Executive

Employment Type: Permanent Job, Full Time

Keyskills

Desired Candidate Profile

    Please see job details section for all requirements

Education-

UG: Any Graduate - Any Specialization

PG:Any Postgraduate - Any Specialization

Company Profile:

JP Morgan Chase

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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